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European shares concluded Friday higher, extending a strong weekly and monthly advance. Optimism surrounding potential U.S. rate cuts fueled gains, with the banking sector notably performing well. Basic Resources also led Friday's rise, driven by record copper prices, while aerospace and defence stocks faced pressure amid Ukraine peace talks.
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News and Media
U.S. Treasury yields edged higher on Friday amidst thin trading volumes following the Thanksgiving holiday and a significant CME Group trading platform outage. While futures trading resumed after an 11-hour shutdown, markets remained subdued. Investors are anticipating a potential Federal Reserve interest rate cut, leading to a slight steepening of the yield curve as the month concludes.
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Andriy Yermak's removal deals a serious blow to Zelensky, who faces a mounting Russian offensive in the east as Washington peddles a plan to end the war that Kyiv fears will hand big concessions to Moscow.
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The U.S. dollar is poised for its worst weekly drop since late July, driven by increased expectations of Federal Reserve rate cuts following softer labor data. Traders are pricing in a high probability of a cut in December, despite inflation concerns. Meanwhile, anticipation builds for the Bank of Japan's meeting, with potential signals of a rate hike influencing the yen.
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The fire started on Wednesday afternoon and rapidly engulfed seven of the eight 32-storey blocks at the complex, which were wrapped in bamboo scaffolding and green mesh and layered with foam insulation for the renovations.
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News and Media